Valero expands Houston refinery for Texas crudes

The move by Valero, the world's largest independent refiner, illustrates how the US crude-oil production boom is displacing crude-oil imports. Valero said by 2015 it will complete the project to add a 90,000 bpd "crude topper" to the refinery. The company will spend up to $280 million on the project.

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By BEN LEFEBVRE

Valero Energy will spend up to $280 million to increase the
amount of West Texas crude oil its Houston refinery can process, the company
said Wednesday.

The move by Valero, the world's largest independent refiner,
illustrates how the US crude-oil production boom is displacing
crude-oil imports.

Advances in drilling methods has unlocked oil and natural gas
from shale formations once thought too expensive to develop,
and the resulting crude-oil production has helped refiners
slash their operational costs.

Valero said by 2015 it will complete the project to add a
90,000 bpd "crude topper" to the refinery.